London, ON Real Estate News

By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
     Homes in Sunningdale, a trendy neighbourhood in North West London with easy and quick access to UWO & Masonville have been selling quite well up to Sept 1, 2011. 40 houses sold from January 1 of this year to present for an average price of $543,646 and on average, these homes took 50 days to sell & sold for 97% of asking price. 21 condos sold at an average selling price of $326,898 which was 98% of the $305,800 asking price and only on the market for 42 days!   Sunningdale remains a sought after neighbourhood because of its location, schools and shopping.    Houses start in Sunningdale from $325,000 and up. To get a jump start on your real estate search in this great London neighbourhood, being prepared is wise and can be cost effective and now you know who to call!
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
Dear First Time Home Buyers, Now that you've decided to purchase your first home in London, Ontario, and you've hired a professional Realtor to be your Buyer Representative, there are a few things you need to do, and not do.  1 - DO NOT go out and make a significant purchase such as a car, and DO NOT buy anything on extended credit that you can pay in a year or two. This will affect your borrowing limit and credit for a mortgage. Please wait until after we get you moved in to your dream home.  2 - DO NOT take all the free advice from friends and family. I know they believe they know, but they don't. If you're serious about purchasing your first home in London, Ontario, NOW is the time to buy. No one knows when the market will 'bottom out,' and if you wait, you will end up making your pu...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
   Uplands in North London is proving to be a desirable location in London Ontario because of easy access to the downtown, UWO and London Airport. As well, newer houses and condos are an attraction.    The average selling price of a house in Uplands between January 1, 2011 and August 29, 2011 was $401,361 and 51 sold in this period for an average of  98% of the asking price and these were on the market for only 33 days. 18 condos sold in this period for $291,911 which was 100% of the asking price  and these only took 32 days to sell.    As you can see, the activity and prices in this neighbourhood are stable and as more and more people learn about this great neighbourhood, exppect to see some growth in house prices.?    With proper planning and knowledge, being prepared can ensure you t...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
One of the most frequently asked question is "When is the best time to list?". Many factors come into play when deciding on when and without sounding snide, the best time is when you are emotionally and physically ready. Like picking the stock market or who should be the Number 1 draft pick, you can gather all the facts and stats you want, only time will tell. If I want shade, when is the best time to plant a tree, today or 5 years from now? Homes that are priced near the market, are easily seen and marketed well and in reasonable shape, sell, both in a good and poor market. Below is a chart that shows residential sales in London Ontario over the last 3 years.
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Does knowing what house prices have been like over the last 3 years in London and South West Ontario do any good? If you are planning on moving to London Ontario, I think it does. If you are thinking of listing your home in London Ontario I think it does. If you are a real estate investor, I think it does. London and area real estate has been quite stable the last 3 years as the chart below shows and we do not get the large price swings that Vancouver, Calgary, Toronto or Montreal is seeing. Again, London is proving to have one of the best real estate values in Canada.
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Daily I am asked about how real estate is doing in London Ontario. When I say a balanced market or a buyers or sellers market ,I may get a nod of understanding but most of the time I  get "ah, OK"! I read or heard that on average, our brain gets bombarded with over 1000 messages an hour and I don't know about you, but for me, that is 900 too many ! So, below is what the residential real estate market has done over the last 12 months from Aug 1, 2010 to July 30, 2011. If there are more homes on the market than are sold, then what kind of market is it? Is the glass half full or half empty?
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
 As of August 25, 2011 it has been a very busy real estate market in Masonville and Stoneybrook neighbourhoods in North London. With close proximity to The University of Western Ontario (UWO), The Research Park, teaching hospitals and of course, Masonville Mall, this area is a sought after neighbourhood to live and play! 66 houses sold with an average sold price of $424,846 which was 97% of the asking price of $438,898. 82 condos in the Masonville, Stoneybrook area sold at an average of $218,748 which was 98% of the asking price of $222,700!  Condos were on the market for less than 37 days and houses 33 days which proves that this area is hot and in demand. As a seller, a real estate brokerage that has ready buyers will ensure you a quick sale so that you may continue on with your life....
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Once again, homes in the Whitehills, Hyde Park neighbourhood in North West London are selling quite quickly.   As of August 25, 2011, 243 houses sold and 71 condos sold, houses for 98% of their asking price and condos 97%!  Houses in Whitehills took an average 42 days to sell followed by condos at 43 days.   Houses in this popular London neighbourhood sold at an average of $252,788 and condos at $159,334 which shows that this neighbourhood remains very price competitive.   Homes in the newer section of Hyde Park are ranging from $285,000 to $375,000 so as you can see, with the great schools and new shopping Big Box Stores being opened, this area is sought after.  Now is a great time to look for a home in Hyde Park because you have a great choice to choose from and beat the heated up Spr...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
 Houses in Byron have sold quite well as of August 25, 2011 with 141 homes selling and  on average these homes in this great sought after neighbourhood were on the market for only 39 days!   As with most averages, some numbers can be deceiving , however, as I am aware of 4 of these homes which only took 3-5 days to sell! Homes that are priced well, in great shape are always sought after and I am a believer that facts leave clues.   The average selling price of a home in Byron was $330,044 and the average sold price was $324,068which was 98% of the asking price. 48 condos in Byron sold so far with an average sold price of $231,123 which was 98% of the asking price of $236,106. These condos were on the market an average of 40 days.   As you can see, Byron real estate for the first 8 month...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
   Stoney Creek is still growing and from January 1, 2011 up to August 22, 2011,78 houses sold at an average price of $276,106 which was 98% of the asking price and these houses took 43 days to sell!  32 condos sold, $170,019 was the average selling price and were on the market an average 47 days. One thing to keep in mind about Stoney Creek is that some of Stoney Creek homes have been around for 20+ years and these averages are not indictave of the newer neighbourhood such as Milestone Road etc.   Stoney Creek as with the rest of real estate in London Ontario, is stable, as we do not experience the peaks and valleys of other Canadian cities and we have most of the amenities to as well.   As a real estate professional, knowing London, the schools, churches, shopping and recreational fac...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
As a Real Estate Broker of Record in London Ontario we have many inquiries from those emigrating to Canada or who will be attending medical school at UWO or are here in London for a 2-3 year duration. The most frequently asked question is can we buy a home and what happens when we move back to our home country. Financing a home obviously depends on the individual but in most cases, lenders will require at a minimum 25% as a down payment. If you own real estate in Canada or have income in Canada , you may want to click here for some great information.
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
If you love the seasonal fruits and vegetables, you have to visit The Trails End Farmers Market in London, Ontario. I've been going there for years, and every year, I look forward to this time of year. Juicy tomatoes, crunchy cucumbers, sweet sweet corn, delicious apples, fresh soft squishy breads and buns ( 3 bags for $5 ), steaks as this as your hand, pepperettes, thick sliced lunch meats, kabobs and ribs...oh, the ribs. But, it's the deals that keep me going! Where else can you get an entire flat of tomatoes for $5!! Or a pail full of peppers for $10! If you do any canning or pickling, this is the place to go! This was one of my recent hauls at The Trails End Farmers Market in London, Ontario. Green onions for a quarter, Strawberries for a buck, Pineapple for 2 bucks, and everything ...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
So, you're thinking of buying your first home in London, Ontario. You have a job, a few bucks in the bank for closing costs and a down payment, and you're ready for the wonderful world of home ownership. What do you do? Allow me to give you a little guidance.  Buying a home in London, Ontario can be a very stressful time in your life, but it doesn't have to be. By following a few simple rules, the entire process can flow smoothly from start to finish.  1 - The first thing to do is to contact a Realtor that you like, know and trust. Someone that you know will put your best interests ahead of their own. Why? Because a professional Realtor should be your consultant, your negotiator and the person that oversees the transactional details. A professional Realtor has the contacts that you will...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
I've been collecting inspirational/motivational quotes since I was 15, which is a pretty long time. One thing I've learned is that inspiration can come from outside, but motivation has to come from within. I was just looking through some of the journals that I've been writing in, and there must be thousands of them. So today I thought I'd write about what keeps me going, and if it helps someone out of a place where I have once been, that's great.  One of my favorite quotes came from a kid in the 6th grade. He said 'If anyone is in need, just lend a hand and help them out.' I'm one of those people that enjoy helping someone whenever I can. I will rarely ever say no when asked to lend a hand, be it in real estate or life in general. When you help someone up a hill, you're closer to the to...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
What's the point of doing an Open House? To attract potential buyers for a particular home, and to pick up a few great new leads for ourselves. Okay, so what's the point in doing an Open House if you aren't going to ask everyone who enters to sign the Guest Registry?  During an Open House, you open the doors to allow strangers into a house not knowing whether they can afford it, are looking to buy, and without knowing anything about them. Yet, you are there to try to sell the home. Right? Or do you just enjoy house sitting rather than doing something more constructive? How can you sell the home to someone you don't know? How can you follow up with someone you don't know? And, God forbid, what if something gets stolen during your Open House, or worse? Without a record of those who enter,...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
When you go on holidays, do you disengage 100% from your business? Or, do you still check messages and emails and call the office daily? When you're with a client, do you answer your phone, check messages, post a Facebook status update, send a qucik Tweet, check your Klout score or call the office to see if there are any messages? Then, why as Realtors, do we feel the need to do this while we're on a vacation with our family, and a break from the business? I have many friends with 9-5 jobs. I know for a fact that when they're on vacation that there's no way in h e double hockey sticks that they're thinking about work. And, there's no way in h e double hockey sticks that they're going to call into work to see if there's anything that can do! But, as Realtors, we find it difficult to swit...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
Here is a great little video with a powerful message. I hope you enjoy it ;^)"   http://www.thestrangestsecretmovie.com/
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
I believe that buying a home can be a stressful time, but I also believe that many buyers make it so themselves. I also believe whole heartedly that it doesn't have to be this way if buyers just followed a few simple guidelines.    1 - Get yourself a great Realtor. I put this #1 because many times, a great Realtor knows a few great mortgage brokers who can help you with your financing. A great mortgage broker deals with lenders every single day, and many times, they can get you better rates and terms that you will be able to get regardless of how well you know your lender.  2 - Get pre approved. There's no point in looking at houses that you are unable to afford. It's frustrating for you, and it's frustrating for your Realtor. Once you know what you can afford, you eliminate wasting any...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
How many times have you set up an appointment to show a property, only to have the tenants tell you that they were not informed? And, they do not allow you in? What do you do? On the weekend, I met an investor client at a property with tenants. We had given 24 hour notice, and upon arriving, we were denied access by the tenants. I don't know how many times I've heard ' We didn't know. No one called us to let us know someone was coming through today.' The second apartment was dead-bolted. Just as I was about to call the listing agent, another Realtor showed up to show the same property at the same time! After an introduction and a few laughs, I called the listing agent to inform her of our problem. It seems the problem with the upper tenant was 'normal' ( yet I was not informed of this w...
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By Alex Gurchin
(Keller Williams LIfestyles Realty)
We see it quite often. A house gets listed for sale, then it just sits...and sits...and sits. It may even change Realtors a time or three, but still, it sits...and sits...and sits. So, what's the problem here? The market? The Realtor? The marketing? The property itself? Or, is it simply the price? So, how do you tell if a property is over priced? Well, I believe there are 3 easy to spot symptoms of an over priced house; 1 - You aren't getting any showings.  2 - You aren't getting any offers. 3 - Your house is still For Sale I also believe there are 3 reasons as to why the property is over priced in the first place; 1 - The Realtor let the sellers choose the price based on emotion, or comparable properties for sale, rather than logic and the history of sold properties in the area.  2 - T...
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